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I believe, in your analogy Tether _is_ the central bank. They don’t need a fall back, they print the money.
by nlitened 5y ago
I believe, in your analogy Tether _is_ the central bank. They don’t need a fall back, they print the money.
- atq2119 5y agoWell, they don't print the USD. But you're right, perhaps a better analogy for what people mean is a central bank trying to maintain a currency peg. Which also often ends badly...